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Christian InTech Articles - Home Business
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5 Rules for Home Based Business Success
Many people get into a home based business because they want to do what they love. Yet, there are a number of things in having a home based business that makes it more of a business than a pleasure. Yet there are some simple rules to follow that can...
A Home Business Career - Work From Home
Having a home business career has become a real possibility with the dawn of the Internet. This brought about the beginning of a new way of life for many people. Instead of struggling to make ends meet with a low paying job, now you can have a...
Before You Begin, Know What To Expect... How You Can Make a Living, Proof Reading From Home
Proof reading from home is an excellent way to make money, right? How hard and challenging can it be to do some editing after all? In fact it can be quite challenging to find a good quality proofreader that works from their house. This is due in...
HOW TO START A PROFITABLE HOME-BASED BUSINESS
In these days, it's becoming increasingly difficult to make ends meet with just one source of income. Thus, more and more people are investigating the possibilities of starting their own extra-income business. Most of these part-time endeavors are...
Simplicity as a Means to Develop your Home Based Business
Simplicity at its best: The Power of Transcending the Confusion Lets keep it simple. Afterall, who wants to sort through virtually millions of potentially good suggestions, and end up with nothing but confusion? There are many ways to make...
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Home Loans and Mortgages – Beware of New “Mortgage Elimination” Scam
The booming real estate market has allowed many Americans to become “equity rich.” They may not have a lot of cash on hand, but they might have equity in their homes worth several hundred thousand dollars or more. Unfortunately, this increase in home wealth has spawned an equally booming business in equity theft, as more and more thieves find increasingly clever ways to con homeowners out of their equity, their homes, or both. One clever new scam involves companies that promise to completely “eliminate” a homeowner’s mortgage. For a fee of a few thousand dollars, these companies claim that a homeowner can have a free and clear title to their home without paying off the remaining debt. How does this scam work?
This scam is a bit more complicated than other scams that often use simple forgery of identity theft. In this “mortgage elimination” scam, the homeowner places his home in a trust with the mortgage elimination company as the trustee. The trustee files a long, tedious, frivolous, letter of complaint with the mortgage company, giving them a mere ten days to respond. Should the mortgage company not respond within ten days, and they frequently do not, the trust claims that they are then free of the mortgage obligation. Using a questionable power of attorney
procedure, the trust then files with the local register of deeds for a release of the home’s title. This makes it appear that the home is now owned without a lien.
The legalities of this range from murky and questionable to outright fraud. It gets even worse when the trustee, claiming clear title to the home, takes out a home equity loan, cashes the check, and promptly disappears. The resulting mess often leaves the original homeowner with a pile of lawsuits, numerous visits from the police and the obligation to pay two mortgages. This scam is currently going on only in certain parts of the country, and isn’t yet widespread. Homeowners can easily avoid being taken by this scam by simply recognizing one simple truth – you cannot simply waive a mortgage obligation away without paying off the loan. Remember, if it sounds too good to be true, it is too good to be true.
About the Author
©Copyright 2005 by Retro Marketing. Charles Essmeier is the owner of Retro Marketing, a firm devoted to informational Websites, including End-Your-Debt.com, a Website devoted to debt consolidation information and HomeEquityHelp.net, a site devoted to information on home equity loans.
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